The global patient engagement platforms market is anticipated to grow at a 17% CAGR during the forecast period, reaching nearly USD 93.4 Billion by 2032, up from USD 16.6 Billion in 2021.
Below-mentioned factors are expected to play a pivotal role in furthering market growth:
The COVID-19 pandemic, just as with any other online business, emerged as an important factor in the expansion of patient engagement platforms. Before the pandemic, digital health engagement platforms were only obtainable to young patients who were familiar with digital equipment or smartphones.
However, due to various worldwide constraints on people's movement during the pandemic, doctors and patients were able to resume consultation and therapy with the aid of mobile patient engagement facilities. During the global epidemic, the annual sales of patient engagement platforms rose significantly and have proceeded to do so post-pandemic.
| Attributes | Details |
|---|---|
| Patient Engagement Platforms Market CAGR (2022 to 2032) | 17% |
| Patient Engagement Platforms Market (2027) | USD 42.5 Billion |
| Patient Engagement Platforms Market Attraction | The establishment of e-commerce websites has made a strong network of goods delivery networks that can be used to increase the efficiency of digital engagements by supplying necessary equipment and medicines. |
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North American countries have made significant investments in developing digital patient engagement platform solutions for patient involvement due to the advantages of having a robust healthcare infrastructure and rapid adoption of clinical and electronic health record (EHR) systems.
This forward transformation by various healthcare Corporations, notably in the United States (USA) and Canada, has aided in placing North America at the leading edge of the global patient engagement platforms market. According to the previous analysis report, the Northwell Health Company of the USA expanded its services in December 2021 by implementing the Playback Health platform at some preferred clinical sites.
In Europe, software companies have successfully established an environment for implementing computer assistance to the elderly population who suffer from a variety of ailments, in addition to patient engagement.
Europe ranks second in the world in regards to providing patient engagement platforms through its well-known National Health Services (NHS) schemes conducted by different countries. The more evolved countries in Europe, such as the United Kingdom (UK), are also attempting to make the healthcare sector utterly paperless to address sustainability apprehensions.
The software solution that serves as the interface between users and healthcare service providers is vital to the success of patient engagement platforms. These solutions, in the pattern of patient engagement mobile apps, permit the efficient transfer of prescription data to patients who reside in remote locations with access to the Internet.
As expected, this segment will produce the greatest growth output for the global market over the next few years. With the expansion of digital consciousness and the declining cost of mobile devices, the consulting services' software sub-segment is estimated to be the largest revenue-generating segment of the worldwide patient engagement platforms market, outpacing the technology segment.
By the end of 2021, the software and hardware segment comprised nearly 80% of the patient engagement mobile health applications market.
As digitization has been introduced in every walk of our lives, healthcare organizations have also started providing online services through various patient engagement platforms, which is a superbly growing market in the present decade.
With the advancement of online services in every sphere of life, healthcare organizations are also increasingly investing in developing patient-engagement mobile health apps for establishing a real-time connection with patients even when they are at home.
A new method of patient engagement has emerged as the most suitable method for maintaining customer satisfaction and trust in the healthcare organization and medical sector as well.
Health engagement platforms are also very essential from the point of view that most of the patients suffering from serious issues cannot visit the hospitals in time. In such times patient engagement platforms relieve the burden of traveling during such a sensitive condition. Healthcare sectors across the world are adopting the implementation of online services as much as possible to provide and strengthen their services for their patients.
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With the growing cases of infectious disease to the emergence of novel pathogens and vector-borne diseases, the use of patient engagement platforms has substituted the physical service provided at healthcare facilities and has provided the required impetus for the rapid growth of the patient engagement platforms market across the globe.
A rising proportion of the senior population and an increasing amount of contagious diseases that visit healthcare institutions is a severe issue that has created the demand for online consulting services as a perfect solution for such a situation.
Even the higher cost of healthcare services post the medical surgeries have also positioned digital patient engagement platforms as a relief for the citizens of developed and developing countries alike.
The growing trend of digital communication and data consumption is the major driving factor for higher healthcare engagement platforms in developing regions such as the Asia Pacific and Latin America.
What are the Major Challenges Limiting the Growth of the Patient Engagement Platform Market?
Making patients digitally literate and comfortable with online consulting services will pose a major hurdle for the rapid adoption of digital healthcare engagement platforms in all regions. Also, the availability of sufficient tools and equipment for conducting healthcare procedures for the patient is a major challenge that will be faced by the market players for popularizing the patient engagement platforms software in the area within their domain.
Patients around the world are opting more and more for digital solutions for the consulting service provided by their healthcare institutions which is driving the popularity of patient engagement platforms around the world.
The prominent component for the success of Patient engagement platforms is the software solution that acts as the interface between users and healthcare service providers. These solutions in the form of patient engagement mobile apps enable the efficient transfer of prescription data to the patient living at a remote location with an internet facility.
As evident, this segment is projected to provide the maximum growth output for the global market in the coming years.
With the rise in digital awareness and decreasing cost of mobile devices, the consulting services' software sub-segment is expected to be the highest revenue-generating component of the technology segment of the global patient engagement platforms market.
The software and hardware segment accounted for almost 80% of the patient engagement mobile health applications market by the end of 2021.
In the technology segment, the patient rounding and patient experience survey sub-segments are also essential for the proper development of software solutions for the successful implementation of the best patient engagement platforms within any consumer base.
The technology part of the patient engagement platform market is growing rapidly, adopting the newest scientific advancements and promises of reliable growth following the popularity of consultation services provided by the software segment.
Patient engagement software solutions have evolved over the years and have turned specific in providing various types of facilities as per the requirement. In the present market, pharma patient engagement platforms are dealing in acute care facilities, post-acute care facilities, and non-acute care facilities as well.
Acute hospitals providing services for chronic disease management occupied the largest portion of the total revenue generated by healthcare engagement platforms at about 40% by the end of the year 2021.
Children's hospitals and ambulatory surgery centers are also observed to have a significant contribution to the expansion of the key companies in the market.
Also, the vast amount of research work carried out in the field for the development of the best patient engagement platforms has attracted various academic medical centers and military treatment facilities into the ambit of its market.
Post-acute care facilities provided are growing at a promising rate and are predicted to be the popular segment for patient engagement software companies increasingly trying to attract more users by expanding their services for every type of ailment.
Long-term acute facilities and skilled nursing facilities are expected to be the most promising sub-segments of the post-acute care facility segment for the digital healthcare engagement platforms in the coming days.
In the non-acute segment, physicians' offices and clinics have remained stagnant in their growth given the small patient base and less area of operation in specific locations. However, this segment is expected to generate some significant market for health engagement platforms with an increase in disease burden around the world.
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With the advantage of having a robust healthcare infrastructure and early adoption of medical and electronic health record (EHR) systems, the countries of North America have invested highly in developing digital patient engagement platform solutions for involving patients.
This forward movement by a number of Healthcare Corporations, mostly in the United States (USA) and in Canada, to some extent has placed the North American geographic region at the forefront of the global patient engagement platforms market.
In Europe, as well as patient engagement, software companies have succeeded in creating an environment for providing digital assistance to the old age population suffering from several types of ailments.
Europe stands in second position globally in providing patient engagement platforms through its famous National Health Services (NHS) schemes formulated by various countries. The more developed Europe, such as the United Kingdom (UK), is also on the path of turning the healthcare sector totally paperless in accordance with environmental concerns.
Asia Pacific countries are also developing their digital ecosystem very rapidly and have digitized most of their financial activities in the last couple of years. With the advantage of having the highest population count in the countries such as China and India development of patient engagement mobile apps have been a booming industry in recent times.
Also, by recognizing the benefits of digital solutions in the healthcare sector, government organizations are also providing immense opportunities for the development and adoption of healthcare financial engagement platforms by private players.
With the rising economic conditions of the general people, the Asia Pacific geographical region is predicted to be the region with the highest growth potential for patient engagement platforms during the forecast years.
The global market for patient engagement platforms is severely fragmented by the presence of a number of solution-providing companies that range widely in size.
The major players are well equipped with the most advanced technology and software products that provide them an edge over the local players.
The main strategy adopted by these players to capture the digital patient engagement platforms market is to collaborate and partner with renowned healthcare service providers already well-established in the
What are the Most Recent Developments Adopted by the Market Players Influencing the Global Patient Engagement Platforms Market?
The patient engagement platforms market is estimated to record a CAGR of 17% during the forecast period.
The patient engagement platforms market is predicted to be valued at US$ 93.4 Billion by 2032.
The global patient engagement platforms market was valued at US$ 16.6 Billion in 2021.
North America accounts for the largest revenue share in the global patient engagement platforms market.
Asia Pacific region is predicted to witness the highest growth rate in the patient engagement platforms market.
1. Executive Summary | Patient Engagement Platforms Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component 5.1. Technology 5.2. Consulting Services 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Facility Type 6.1. Acute Care Facility 6.1.1. Acute Hospitals 6.1.2. Children Hospitals 6.1.3. Academic Medical Center 6.1.4. Military Treatment Facility 6.1.5. Ambulatory Surgery Center 6.2. Post-Acute Care Facility 6.2.1. Long-Term Acute Facility 6.2.2. Skilled Nursing Facility 6.2.3. Other 6.3. Non-Acute Care Facility 6.3.1. Physicians Office 6.3.2. Clinics 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa(MEA) 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Vocera Communications Inc. 15.2. Press Ganey Associates 15.3. Qualtrics International Inc. 15.4. Sodexo 15.5. Huron Consulting Group 15.6. Aramark 15.7. Cipherhealth 15.8. Accenture Plc 15.9. GetWellNetwork Inc. 15.10. HybridChart Inc. 16. Assumptions & Acronyms Used 17. Research Methodology
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Patient Engagement Platforms Market
